How the Greek deal could destroy the euro

“Indeed, the European institutions led by Germany seem to have decided that waging an ideological battle against a recalcitrant and amateurish far-left government in Greece should take precedence over 60 years of European consensus built painstakingly by leaders across the political spectrum.

By imposing a further socially regressive fiscal adjustment, the recent agreement confirmed fears on the left that the European Union could choose to impose a particular brand of neoliberal conservatism by any means necessary. In practice, it used what amounted to an economic embargo—far more brutal than the sanctions regime imposed on Russia since its annexation of Crimea—to provoke either regime change or capitulation in Greece. It has succeeded in obtaining capitulation. […]

In essence, Germany established that some democracies are more equal than others.”